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talking about eliminating things too, like the estate tax and alternative minimum tax. that's a huge revenue raiser, that amt how will he get away with that? >> well, certainly a lot comes down to two factors in order to pay for it, one is, you have to look at it from the economic growth side. when we look at the economic benefits of cutting taxes across the board you really end up losing only about half of what you would if you look at it simply on a static basis. that means we have to do a lot less base broadening and a lot less loophole cutting than we normally would. that helps reduce the overall cost to the plan substantially. and makes it a lot less difficult to do these sort of measures to cut the costs. tracy: so the assumption is that the growth created will pay for the losses, will cover a piece of the loss of revenue, right. >> yes, that's correct. not all but some. tracy: okay. and then we also hear though he will cap some big tax breaks. do we know what breaks he is talking about? >> no. he has been obviously, very elusive about that. why not? why get into
talking about eliminating things too, like the estate tax and alternative minimum tax. that's a huge revenue raiser, that amt how will he get away with that? >> well, certainly a lot comes down to two factors in order to pay for it, one is, you have to look at it from the economic growth side. when we look at the economic benefits of cutting taxes across the board you really end up losing only about half of what you would if you look at it simply on a static basis. that means we have to...
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his point was millionaires don't need tax breaks, the wealthy don't need tax breaks and those tax breaks will not animate our economy further. what we have to make sure the middle-class taxes stay low and the challenging issue was let us vote on the middle-class tax cut. >> congressman paul ryan in ohio, vice president joe biden traveled to ryan's home state of wisconsin. thank you. dennis: thank you. at least one poll gives vice president biden a victory last night according to a cbs poll, 50% of uncommitted voters say vice president biden when the debate according to 31% for paul ryan. washington research joins us now. in the end, is this debate going to be the thing that makes the difference? >> absolutely not. by the end of today we will not even be talking about the debate. we'll be talking forward to next week's presidential debate. dennis: is one reason biden may have seemed to win the debate because he did not have a major gaffe and we were waiting and wondering for it? >> you can say that about all sides. they played to their base, trying to declare victory, neither one of them
his point was millionaires don't need tax breaks, the wealthy don't need tax breaks and those tax breaks will not animate our economy further. what we have to make sure the middle-class taxes stay low and the challenging issue was let us vote on the middle-class tax cut. >> congressman paul ryan in ohio, vice president joe biden traveled to ryan's home state of wisconsin. thank you. dennis: thank you. at least one poll gives vice president biden a victory last night according to a cbs...
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most banks we estimate have 20% to 25% pre-tax boost. jpmorgan is higher quality than most of the other banks in our coverage universe. melissa: how does this figure in your outlook since the london whales trading debacle and profits were $5.71 billion compared to $5.8 billion? that was where we are with that. does it push it through even more? >> the company came out and said the losses related to the portfolio were roughly $200 million to $300 million. a lower number than we saw the first week to quarters of this year and the losses could be in that similar range in the fourth quarter and the company hopes to have it largely behind them by the start of the new year. there is still the board reviewed that is ongoing and requests to purchase more capital, more shares that is going to have to pass muster of the rate regulators. melissa: how does it look from the investor's prospective? >> we have a performance rating on the stock for three reasons. we think the company will generate 20% earnings growth the next two years. secondly we thin
most banks we estimate have 20% to 25% pre-tax boost. jpmorgan is higher quality than most of the other banks in our coverage universe. melissa: how does this figure in your outlook since the london whales trading debacle and profits were $5.71 billion compared to $5.8 billion? that was where we are with that. does it push it through even more? >> the company came out and said the losses related to the portfolio were roughly $200 million to $300 million. a lower number than we saw the...
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a lot of tax got downgraded today. i also wanted to take a look at a long-term chart of the dow versus the s&p 500 over five years. five years ago, the dow and s&p 500 actually hit the record. the dow closed up 14,164. a lot of the bulls out there would like to see that right now. the s&p closed at 1545. the dow is down 4% from that peak in the s&p down about 7%. as far as the major market averages, business sentiment from small businesses. it fell for the fourth time in five months since september. some of the analysts calls that we have seen on the tech stock, including ibm, hewlett-packard, dell, most of them were downgraded. some of the tech names coming under pressure today. back to you. tracy: thank you. a new reading on american small business sentiment. raising new fears about recession. elizabeth macdonald here with. >> bottom line. >> they should sit up and take notice. it is a confidence index. basically since 1980, firms less than five years old, created all net new jobs in this country. here is dan danner.
a lot of tax got downgraded today. i also wanted to take a look at a long-term chart of the dow versus the s&p 500 over five years. five years ago, the dow and s&p 500 actually hit the record. the dow closed up 14,164. a lot of the bulls out there would like to see that right now. the s&p closed at 1545. the dow is down 4% from that peak in the s&p down about 7%. as far as the major market averages, business sentiment from small businesses. it fell for the fourth time in five...
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for a tax cut. connell: peter barnes has all his marbles in d.c. today. thanks. dagen: not really. we love you. they're not quite all there. connell: that's not right. you should be the one to talk. dagen: that's why i said that. peter, we do love you. it says connell read. connell: i love that name, two ns and two ls. the protesters are out in greece today over all the cutbacks in the government. they don't like merkel and everything else. we will bring you the latest from greece. dagen: back here at home, the keystone pipeline is back in the national spotlight thanks to the romney campaign. cheaper fuel, more jobs, are all in place here. take a look at today's winners on the s&p 500: dagen: cheaper energy and more jobs, the romney ryan camp putting the keystone pipeline back in the national spotlight. we track all of our money that is going to the solar panel industry in china. and that ominous dark cloud hanging overhead, not connell, was expected to be a lousy season for quarterly earnings. some
for a tax cut. connell: peter barnes has all his marbles in d.c. today. thanks. dagen: not really. we love you. they're not quite all there. connell: that's not right. you should be the one to talk. dagen: that's why i said that. peter, we do love you. it says connell read. connell: i love that name, two ns and two ls. the protesters are out in greece today over all the cutbacks in the government. they don't like merkel and everything else. we will bring you the latest from greece. dagen: back...
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ashley: we hear tax issues. keep looking for lower tax rates. lower volatility. how do you counter act those concerns when you're trying to attract companies and to the stock exchange and just investing in greece in general? >> you're toughing a very sensitive issue. the sensitive issue of the reforms because we are undergoing severe reforms in the country at this moment. among which we have to emphasize the change in the tax system that we have. it is up to now, allowed for tax evasion and other similar discrepancies the new tax system will be fair and without surprises to investors and the business community. this will be in place at the end of the year. it is good news. we're expecting much more in the context of reforms we're undergoing in greece at this moment. ashley: the news we see in greece, you know this, we see rioters in streets and general strikes. up to 1,000 job as day lost over the past year. latest unemployment number, 25%, could go higher. when you paint that kind of picture what are you saying as a member of the chamber of commerce looking to g
ashley: we hear tax issues. keep looking for lower tax rates. lower volatility. how do you counter act those concerns when you're trying to attract companies and to the stock exchange and just investing in greece in general? >> you're toughing a very sensitive issue. the sensitive issue of the reforms because we are undergoing severe reforms in the country at this moment. among which we have to emphasize the change in the tax system that we have. it is up to now, allowed for tax evasion...
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will go up whoever went in november. >> your effective tax income after taxes will go up. deductions will go down. that is in effect the same thing. what you should see is a reduction of the concern about the fiscal cliff crossing over. the congressional budget office said it is about a 1% reduction in gdp if we go over the cliff. that disappearing is good for us. cheryl: i want to revisit this issue with you. some stock and sector plays based on your research. we are so close to the election. if romney wins, stock winners will be care providers, interesting a healthcare provider there. >> and the defense contractors also. cheryl: we also showed that basically that defense will be a big loser if the president stays in office. >> there will be different winners and losers depending on who wins. and all environments, you do very well owning consumer brands that that people love. they take advantage of the growth of the middle class. what we suggest is who matters does when. if you are not sure, you should be in index funds. what you want to do after the next several years is
will go up whoever went in november. >> your effective tax income after taxes will go up. deductions will go down. that is in effect the same thing. what you should see is a reduction of the concern about the fiscal cliff crossing over. the congressional budget office said it is about a 1% reduction in gdp if we go over the cliff. that disappearing is good for us. cheryl: i want to revisit this issue with you. some stock and sector plays based on your research. we are so close to the...
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the action that we are seeing here tax onto a winning year 2012. they are in fact in discussion with softbank of japan. dagen: thank you. connell: we do have some more noise, as they say, around the jobs report. if you cannot count on these jobs numbers, what can investors count on? we will talk about that. dagen: we will continue to track the run-up in sprint. connell: new legislation could force your cell phone provider to stop sharing info with third parties like the u.s. government. you think the judge is for this. well, we do not put any words and the judges mouth. he will be here to speak for himself in studio. oil, backup to 92 and changed today. that is a big gain. we will be right back. ♪ dagen: welcome back, everybody. quarter past the hour. stocks now and every 15 minutes. breaking news on apple and samsung. nicole: this is a big one that we will continue to follow. u.s. appeals court actually reversing that injunction against samsung galaxy nexus smart phone in the patent fight with apple. as the news roque, the volume spiked, it sold
the action that we are seeing here tax onto a winning year 2012. they are in fact in discussion with softbank of japan. dagen: thank you. connell: we do have some more noise, as they say, around the jobs report. if you cannot count on these jobs numbers, what can investors count on? we will talk about that. dagen: we will continue to track the run-up in sprint. connell: new legislation could force your cell phone provider to stop sharing info with third parties like the u.s. government. you...